A bizarre recent claim that the US’s Shiloh oil was involved in negotiations with the Thibaw Government that included use of slave labor as well as transfer of technology has had the effect of boosting Shiloh’s share price.
“Nobody believes that a company like Shiloh would use slave labor - and not just for ethical reasons but for pragmatic ones also,” says respected market analyst Kenton Archer, “but there is widespread relief that Shiloh is maintaining a position in Thibaw. it sunk a lot of money there in its unsuccessful exploration campaign and it obviously hasn’t given up on the country. That it’s negotiating with the government is a positive sign.”
Shiloh closed at 6.86, its highest for some months.
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